Ex Goldman Sachs Executive Raoul Pal Asks Investors To Buy Bitcoin

The founder of Global Macro Investor and Real Vision Group Raoul Pal recently took to Twitter to say that global financial markets and currencies are at a very fragile junction. With the dollar rising at an uncontrollable rate, we could witness all major Asian currencies falling by 20 percent or more. This makes the perfect breeding ground for Bitcoin (BTC) adoption.

The US-China trade war could be fueling this year’s bull run, as it is negatively affecting the Chinese yuan and appears to be positively affecting the price of Bitcoin. Additionally, the television network RT prompted that the trade war between the two economic giants could potentially be leading Chinese investors to abandon the yuan and seek out Bitcoin in anticipation of the yuan falling further.

Although there is a blanket ban for Bitcoin and crypto trading in China, they still have a vibrant OTC market. The OTC market is vibrant, and these venues have found politically acceptable ways to allow buyers and sellers to meet in China. Zhao Dong, arguably the largest OTC trader in China, is one of the main people responsible for the successful $1bn Bitfinex LEO IEO.

Gold and Bitcoin have been showing similar technical indicators. This trend suggests that investors are expecting an impending currency crisis and Bitcoin could become accepted as a new financial system or even currency.

Dan McArdle, the co-founder of the analytics firm Messari, said that Bitcoin could behave similarly to how Gold behaved between the years 2008 to 2011. He added that Bitcoin could experience an initial spike on fears of crises, a big fall as liquidity crises set in and finally, an even bigger rise as real debt, sovereign or currency fears take hold.

2020 will be the time when the next halving will occur, as it seems to be happening after every four years. However, after every halving, BTC prices surged, and is expected to cross the $20,000 mark.

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